EUROPE SYNTHETIC LEATHER MARKET FORECAST 2023-2032
The Europe synthetic leather market is anticipated to generate 6448.45 million meters in volume and $15440.09 million in revenue by 2023. The market is estimated to grow with a 6.86% CAGR and 6.62% CAGR in revenue and volume, respectively, during the assessment period 2023-2032.
EUROPE SYNTHETIC LEATHER MARKET FORECAST 2023-2032
Europe Synthetic Leather Market by Product (Polyurethane, Polyvinyl Chloride, Bio-based) Market by Application (Footwear, Automotive, Furnishing, Clothing, Bags & Wallets, Other Applications) by Geography
The Europe synthetic leather market is anticipated to generate 6448.45 million meters in volume and $15440.09 million in revenue by 2023. The market is estimated to grow with a 6.86% CAGR and 6.62% CAGR in revenue and volume, respectively, during the assessment period 2023-2032.
The Europe synthetic leather market witnessed significant growth owing to the region’s flourishing automobile and consumer appliances sectors. Moreover, the regional governments focus on bio-based and low-cost products with high durability. Europe has a strong apparel market with continuous growth and is home to some of the world’s biggest and most renowned apparel companies.
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According to the Central Bureau of Investigation (CBI), Europe’s apparel import market was valued at EUR 127.4 billion in 2020. The increasing demand from the automotive industry in Europe is the major driver for the automotive interior materials market, indirectly driving the synthetic leather market. Synthetic leather is commonly used for seat covers in trains, trucks, cars, buses, etc., as they enhance the aesthetic appeal of the interior and provide easy maintainability.
The Europe synthetic leather market growth assessment entails the analysis of Nordic Countries, United Kingdom, Spain, Italy, Germany, France, and Rest of Europe. The United Kingdom’s market for synthetic leather is driven by the rising need for leather for making bags, shoes, automobiles, and other leather goods. Instead of real leather, eco-friendly and sustainable leather is more in demand from end-use industries. Further, the synthetic leather market is expanding due to increasing environmental awareness, increased ethical concerns about animal suffering, and strict laws. Numerous industries employ synthetic leather, including footwear, fashion, automotive, furniture, and electronics.
Furthermore, Germany’s demand for upholstery, footwear, and automotive interior industries also saw profitable growth. Moreover, there was a significant demand for expensive items like shoes and bags made of synthetic leather. As a result, the synthetic leather market saw potential growth due to intensive research and development efforts spearheaded by new players. Moreover, the widespread adoption of the athleisure trend in the nation has significantly increased demand for footwear.
In addition, small and medium-sized businesses (SMEs) and micro firms dominate Germany’s labor-intensive and dynamic furniture industry. Due to their innovative vision for new designs and attentiveness to changing consumer expectations, furniture producers enjoy a positive reputation worldwide. Therefore, it is anticipated that the German furniture industry will offer profitable opportunities for synthetic leather in the next few years.
The Europe synthetic leather market evaluation includes segmentation by application and product. Market by product covers polyvinyl chloride (PVC), bio-based, and polyurethane (PU).
PVC has a tough surface that resists moisture, making it perfect for high-traffic commercial seating and hospital and marine environments. The knit back of the material makes it simple to tailor and create rounded edges. Eliminating stitched seams, which are known to harbor mildew, germs, and mold is another advantage of thermoforming PVC with four-way stretch fabrics. This advantage is particularly significant for healthcare applications. Unlike PU, PVC becomes firmer at low temperatures and is slower to adapt to the body temperature. Also, PVC resin is comparatively inexpensive compared to other synthetic leather grades.
Some of the key players in the Europe synthetic leather market are BASF SE and Alfatex Italia SRL.
BASF SE develops and commercializes chemical products and solutions required in several sectors, such as agriculture, energy, home care, nutrition, paints & coatings, and pharmaceuticals. The company operates in chemicals, surface technologies, nutrition & care, materials, industrial solutions, and agriculture solutions segments.
Further, the company is actively performing its business operations in more than 90 countries, along with around 355 production facilities established around the globe. The company operates in the Middle East, Asia-Pacific, Europe, South America, North America, and Africa. The company is headquartered in Ludwigshafen, Germany.
Haptex from BASF SE is non-toxic, heat & curve resistant, low on VOC, high peel strength, good UV resistance, and low abrasion synthetic leather solution. It is used for apparel, footwear, accessories, automobiles, and furniture.
Report Synopsis
|
Report Scope |
Details |
| Market Forecast Years | 2023-2032 |
| Base Year | 2022 |
| Market Historical Years | 2018-2021 |
| Forecast Units | Revenue ($ Million), Volume (Million Meters) |
| Segments Analyzed | Product and Application |
| Countries Analyzed | United Kingdom, Germany, France, Italy, Spain, Nordic Countries, and Rest of Europe |
| Companies Analyzed |
Achilles USA Inc, Alfatex Italia SRL, Toray Industries Inc, BASF SE, HR Polycoats Pvt Ltd, Kuraray Co Ltd, Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co Ltd, Teijin Limited, FILWEL Co Ltd, Yantai Wanhua Synthetic Leather Group Co Ltd, Zhejiang Hexin Holdings Co Ltd, Winner Nippon Leatherette Pvt Ltd, Taiwan PU Corporation. |
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- SCOPE OF STUDY
- CRISIS SCENARIO ANALYSIS
- MAJOR MARKET FINDINGS
- ADOPTION OF VEGAN-BASED LEATHER ACROSS THE FASHION INDUSTRY
- SURGING USE OF SYNTHETIC LEATHER BY AUTOMOTIVE GIANTS
- MYTH THAT SYNTHETIC LEATHER IS MORE ECO-FRIENDLY THAN REAL LEATHER
- MARKET DYNAMICS
- KEY DRIVERS
- INCREASE IN DEMAND FROM VARIOUS END USE INDUSTRIES
- TECTONIC SHIFT TOWARD THE ADOPTION OF ANIMAL-FREE AND SUSTAINABLE PRODUCTS
- CHEAPER AND MORE AFFORDABLE ALTERNATIVE TO NATURAL LEATHER
- KEY RESTRAINTS
- CONCERNS REGARDING THE USE OF PVC AND PU
- FUNDAMENTAL DIFFERENCES FROM NATURAL COUNTERPARTS
- KEY DRIVERS
- KEY ANALYTICS
- PARENT MARKET ANALYSIS
- MANUFACTURING TECHNOLOGY SNAPSHOT
- WET PROCESS
- TRANSFER COATING TECHNOLOGY
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- GROWTH PROSPECT MAPPING
- GROWTH PROSPECT MAPPING FOR GERMANY
- MARKET MATURITY ANALYSIS
- MARKET CONCENTRATION ANALYSIS
- VALUE CHAIN ANALYSIS
- RAW MATERIAL SUPPLIERS
- MANUFACTURERS
- DISTRIBUTORS
- END USE
- KEY BUYING CRITERIA
- RAW MATERIAL
- DURABILITY
- COST
- MARKET BY PRODUCT
- POLYURETHANE (PU)
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- POLYVINYL CHLORIDE (PVC)
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- BIO-BASED
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- POLYURETHANE (PU)
- MARKET BY APPLICATION
- FOOTWEAR
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- AUTOMOTIVE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- FURNISHING
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- CLOTHING
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- BAGS & WALLETS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER APPLICATIONS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- FOOTWEAR
- GEOGRAPHICAL ANALYSIS
- EUROPE
- MARKET SIZE & ESTIMATES
- EUROPE SYNTHETIC LEATHER MARKET DRIVERS
- EUROPE SYNTHETIC LEATHER MARKET CHALLENGES
- EUROPE SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- UNITED KINGDOM SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- GERMANY
- GERMANY SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- FRANCE
- FRANCE SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- ITALY
- ITALY SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- SPAIN
- SPAIN SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- NORDIC COUNTRIES
- NORDIC COUNTRIES SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- REST OF EUROPE
- REST OF EUROPE SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- UNITED KINGDOM
- EUROPE
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS DIVESTITURES & EXPANSIONS
- COMPANY PROFILES
- ACHILLES USA INC
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- ALFATEX ITALIA SRL
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- BASF SE
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- FILWEL CO LTD
- COMPANY OVERVIEW
- PRODUCTS
- HR POLYCOATS PVT LTD
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- KURARAY CO LTD
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- MAYUR UNIQUOTERS LIMITED
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- NAN YA PLASTICS CORPORATION INC
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- SAN FANG CHEMICAL INDUSTRY CO LTD
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- TAIWAN PU CORPORATION
- COMPANY OVERVIEW
- PRODUCTS
- TEJIN LIMITED
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- TORAY INDUSTRIES INC
- COMPANY OVERVIEW
- FINANCIAL ANALYSIS
- PRODUCTS
- STRENGTHS & CHALLENGES
- WINNER NIPPON LEATHERETTE PVT LTD
- COMPANY OVERVIEW
- PRODUCTS
- YANTAI WANHUA SYNTHETIC LEATHER GROUP CO LTD
- COMPANY OVERVIEW
- PRODUCTS
- ZHEJIANG HEXIN HOLDINGS CO LTD
- COMPANY OVERVIEW
- PRODUCTS
- ACHILLES USA INC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – SYNTHETIC LEATHER
TABLE 2: EUROPE SYNTHETIC LEATHER MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 3: EUROPE SYNTHETIC LEATHER MARKET, BY PRODUCT, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 4: EUROPE SYNTHETIC LEATHER MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)
TABLE 5: EUROPE SYNTHETIC LEATHER MARKET, BY PRODUCT, FORECAST YEARS, 2023-2032 (IN MILLION METERS)
TABLE 6: EUROPE SYNTHETIC LEATHER MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 7: EUROPE SYNTHETIC LEATHER MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 8: EUROPE SYNTHETIC LEATHER MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)
TABLE 9: EUROPE SYNTHETIC LEATHER MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN MILLION METERS)
TABLE 10: EUROPE SYNTHETIC LEATHER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 11: EUROPE SYNTHETIC LEATHER MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 12: EUROPE SYNTHETIC LEATHER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)
TABLE 13: EUROPE SYNTHETIC LEATHER MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN MILLION METERS)
TABLE 14: EUROPE SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK
TABLE 15: LEADING PLAYERS OPERATING IN EUROPE SYNTHETIC LEATHER MARKET
TABLE 16: LIST OF ACQUISITIONS
TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: MANUFACTURING TECHNOLOGY SNAPSHOT
FIGURE 2: KEY MARKET TRENDS
FIGURE 3: PORTER’S FIVE FORCES ANALYSIS
FIGURE 4: GROWTH PROSPECT MAPPING FOR GERMANY
FIGURE 5: MARKET MATURITY ANALYSIS
FIGURE 6: MARKET CONCENTRATION ANALYSIS
FIGURE 7: VALUE CHAIN ANALYSIS
FIGURE 8: KEY BUYING CRITERIA
FIGURE 9: EUROPE SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2022
FIGURE 10: EUROPE SYNTHETIC LEATHER MARKET, BY POLYURETHANE (PU), 2023-2032 (IN $ MILLION)
FIGURE 11: EUROPE SYNTHETIC LEATHER MARKET, BY POLYVINYL CHLORIDE (PVC), 2023-2032 (IN $ MILLION)
FIGURE 12: EUROPE SYNTHETIC LEATHER MARKET, BY BIO-BASED, 2023-2032 (IN $ MILLION)
FIGURE 13: EUROPE SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022
FIGURE 14: EUROPE SYNTHETIC LEATHER MARKET, BY FOOTWEAR, 2023-2032 (IN $ MILLION)
FIGURE 15: EUROPE SYNTHETIC LEATHER MARKET, BY AUTOMOTIVE, 2023-2032 (IN $ MILLION)
FIGURE 16: EUROPE SYNTHETIC LEATHER MARKET, BY FURNISHING, 2023-2032 (IN $ MILLION)
FIGURE 17: EUROPE SYNTHETIC LEATHER MARKET, BY CLOTHING, 2023-2032 (IN $ MILLION)
FIGURE 18: EUROPE SYNTHETIC LEATHER MARKET, BY BAGS & WALLETS, 2023-2032 (IN $ MILLION)
FIGURE 19: EUROPE SYNTHETIC LEATHER MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)
FIGURE 20: EUROPE SYNTHETIC LEATHER MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)
FIGURE 21: UNITED KINGDOM SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 22: GERMANY SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 23: FRANCE SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 24: ITALY SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 25: SPAIN SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 26: NORDIC COUNTRIES SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 27: REST OF EUROPE SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)
FIGURE 28: TORAY INDUSTRIES INC, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 29: TORAY INDUSTRIES INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 30: TORAY INDUSTRIES INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 31: BASF SE, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 32: BASF SE, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)
FIGURE 33: BASF SE, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 34: BASF SE, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 35: KURARAY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 36: KURARAY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)
FIGURE 37: KURARAY CO LTD, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 38: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 39: MAYUR UNIQUOTERS LIMITED, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)
FIGURE 40: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 41: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 42: NAN YA PLASTICS CORPORATION, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)
FIGURE 43: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY INDUSTRY, IN 2021 (IN %)
FIGURE 44: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 45: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 46: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)
FIGURE 47: TEJIN LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)
FIGURE 48: TEJIN LIMITED, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 49: TEJIN LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
- GEOGRAPHICAL ANALYSIS
- EUROPE
- MARKET SIZE & ESTIMATES
- EUROPE SYNTHETIC LEATHER MARKET DRIVERS
- EUROPE SYNTHETIC LEATHER MARKET CHALLENGES
- EUROPE SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- UNITED KINGDOM SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- GERMANY
- GERMANY SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- FRANCE
- FRANCE SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- ITALY
- ITALY SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- SPAIN
- SPAIN SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- NORDIC COUNTRIES
- NORDIC COUNTRIES SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- REST OF EUROPE
- REST OF EUROPE SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
- UNITED KINGDOM
- EUROPE
- MARKET BY PRODUCT
- POLYURETHANE (PU)
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- POLYVINYL CHLORIDE (PVC)
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- BIO-BASED
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- POLYURETHANE (PU)
- MARKET BY APPLICATION
- FOOTWEAR
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- AUTOMOTIVE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- FURNISHING
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- CLOTHING
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- BAGS & WALLETS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER APPLICATIONS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- FOOTWEAR
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